The amount of cash or
cash equivalents that could currently be obtained by selling an asset in an
orderly disposal.

Recognition

The process of
incorporating in the balance sheet or income statement an item that meets the
definition of an element and satisfies the following criteria for
recognition:

it is probable that any future
economic benefit associated with the item will flow to or from the entity; and

the item has a cost or value that
can be measured with reliability.

Relevance

Information has the
quality of relevance when it influences the economic decisions of users by
helping them evaluate past, present or future events or confirming, or
correcting, their past evaluations.

Reliability

Information has the
quality of reliability when it is free from material error and bias and can be
depended upon by users to represent faithfully that which it either purports to
represent or could reasonably be expected to represent.

Revenue

The gross inflow of
economic benefits during the period arising in the course of the ordinary
activities of an entity when those inflows result in increases in equity, other
than increases relating to contributions from equity participants.